South Korea's National Energy Plan for Carbon-Free Future
Key Ideas
  • South Korea aims to increase carbon-free energy sources to over 70% of annual power generation by 2038.
  • The plan includes a significant rise in nuclear and renewable energies to meet the growing electricity demand driven by AI and EV development.
  • The country is focused on achieving carbon neutrality by 2050 through the utilization of various clean energy sources.
  • The Ministry of Trade, Industry and Energy finalized the national electricity supply plan for 2024-2038 to support the transition towards a greener energy mix.
South Korea has announced a new national energy plan that targets a substantial increase in carbon-free energy sources to account for more than 70% of the country's annual power generation by 2038. This plan involves a boost in the contribution of nuclear power and renewable energies like solar, wind, and hydrogen power. The Ministry of Trade, Industry and Energy revealed that the aim is to elevate the proportion of carbon-free energies from 39.1% in 2023 to 70.7% in 2038 to support the development of advanced industries such as AI and EV. The national electricity supply plan for 2024-2038 highlights the expected 1.8% yearly growth in electricity demand, reaching 129.3 GW by 2038. South Korea plans to increase the share of nuclear and renewable energies significantly, aiming for 31.8% and 18.8% by 2030 and 35.2% and 29.2% by 2038, respectively. This initiative aligns with the country's long-term goal of achieving carbon neutrality by 2050, emphasizing the importance of transitioning to cleaner energy sources for a sustainable future.
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